Our expert team of traders and writers here at BitReviews.com are here to provide you with fair, honest and transparent reviews. Our Easymarkets Review 2020 aims to answer all of the questions you may have regarding the strong reputation the site enjoys, as well as their security and top-notch easyTrade platform. So to find out why this is the platform for you, read on!
Pros & Cons of Easymarkets
- 0% Commission on trades
- Over 300 trading instruments available for use
- Desktops trading platforms and mobile trading apps
- Demo account available
- Easymarkets crypto trading now available
- Ability to set a risk limit
- Not available to US clients
- Crypto can only be traded via CFDs
In this section of our Easymarkets Review, we’ll take a look at the actual website, the app and the trading platforms themselves. Additionally, we’ll also take a look at the security measures they have in place to protect clients’ money and data. If you’re looking to trade in large volumes, then we’d recommend using the desktop MT4 trader and signing up for a VIP account. Lower volume and novice traders, however, will be able to work with their web trader or app.
In terms of usability, all 3 Easymarkets trading platforms are straightforward and user friendly. In our experience, there were no huge problems in terms of lagging and loading times. However, advanced traders may find the web and trading app to be a little bit limiting. While the MT4 trader will suffice, the addition of MT5 would be welcome. When it comes to aesthetics, Easymarkets use a simple but modern colour scheme that’s inoffensive and easy on the eye. As well as giving the website a more user-friendly appeal, the polished & professional look also increased trustability.
In terms of security, Easymarkets hold their clients’ funds in a separate segregated 3rd party bank account. The bank they use is unnamed, however, it is a tier-1 regulated banking provider to further cement the security of this measure. What this effectively does, is keeps clients money safe in the event of Easymarkets suffering a major data hack.
How To Trade
First of all, you’ll have to sign up and register your Easymarkets account. You’ll have to choose your account type. Here you have the choice of one of the basic accounts or the VIP Trader Account. Once you’ve completed the form, you’ll have to wait for your account to be verified.
As we mentioned earlier in our Easymarkets Review, you’ll be charged no deposit fees whatsoever when funding your account. All you have to do is make a deposit of at least $100 (or the equivalent in your currency) using one of the available payment methods. Credit and debit card payments are recommended here, as they are processed instantly.
Once your account’s been funded, you can start trading indices, metals, CFDs, stocks, Cryptocurrencies and more. If you’ve created a VIP account you can start trading in high volumes at discount prices straightaway. More novice traders can make use of the educational and research materials. As mentioned above, you can limit your risk using easyTrade should you wish.
Once you’ve made any profits and wish to withdraw them, you can do so without fees with Easymarkets. This means getting your hands on 100% of your profits which is always an advantage in our eyes here at BitReviews.com.
As we will mention in the “Fees” section of our Easymarkets Review 2020, the biggest selling point here is the omission of deposit and withdrawal fees. The minimum deposit amount is $100 across the board. There is no minimum withdrawal amount, provided that you use the same withdrawal payment method and account as you used for your deposit. The available payment methods available with Easymarkets includes a number of credit/debit cards, online baking options, ewallets and wire transfers.
The processing times for all credit/debit cards are instant, with other methods taking anywhere between 24 hours and 5 working days. On average, Easymarket processes their withdrawals within 2-5 working days. However, depending on bak and time difference, it could realistically take between 3 and 10 working days before the money is actually inside your account. Overall, we rate this Easymarkets Review highly when it comes to payments.
No one likes fees as a general rule, so let’s see what we’re dealing with in this part of our Easymarkets Review 2020. Firstly, let’s start off with the positives. Easymarkets don’t charge deposit, inactivity or CFD commission fees. However, let’s take a closer look to see if there are any exceptions to these rules. The deposit fees appear to be completely non-existent from Easymarkets’ side, with the minimum deposit limit set down at $100.
Perhaps more impressively, Easymarkets don’t charge any deposit fees for any of their available payment methods from their end. However, we should mention that your banking provider may charge fees at the other end. Spreads, pricing and leverage with Easymarkets are all extremely competitive. Moreover, VIP account holders and/or high volume traders can enjoy additional discounts. Overall, this makes Easymarkets a good place to come should you wish to get to keep 100% of your profits. The price you pay is that this is an average risk (as opposed to low risk) trader.
Now in this Easymarkets Review, let’s take a look at how you can best contact the customer support team. The customer support team at Easymarkets work on a global scale and are therefore available in a great number of languages. You can access his global support team via 3 main communication channels. Namely, these are live chat, phone and email.
First of all, let’s take a look at the live chat – the highest rated of the 3 mentioned in this section of our Easymarkets Review 2020. If you want to resolve small issues quickly and easily this is the place to do it. The live chat is available on the website and in the app. When testing it, we received responses to every question in under 2 minutes.
Additionally, Easyamarkets’ email response times are quicker than most. Based on our own experience and reading more than one Easymarkets review from an existing client, response times tend to be between 2 minutes and 3 hours. This is far quicker than most competitors. To add to that, the multilingual phone line has a response time of around 1 minute and is cost-friendly.
In this section of our Easymarkets Review 2020, we’ll take a look at the licensing, regulation and security measures put in place by Easymarkets. As we already touched on above, Easymarkets is regulated in Europe by Cyprus Securities and Exchange Commission (CySEC), and in Australia by the Australian Securities and Investment Commission (ASIC). In addition to this information, Easymarkets are also supervised and governed by several financial regulatory bodies.
And, as we mentioned above in our Easymarkets Review, they keep clients’ funds in a separate top tier bank account from their own funds. RAs a result, clients’ funds are protected in the unlikely event that Easymarkets should suffer a large scale hack. To further cement their reputability, Easymarkets have won multiple awards over the years. These include Best Forex Broker, Most Transparent Provider and Most Innovative Broker. They have a number of sponsorship deals including their recent affiliation with Real Madrid.
Reputation and Customer Feedback
As part of researching and writing our own Easymarkets Review, we took a look at clients’ feedback and their reputation within the industry. As we expected from such a well-known platform with high profile affiliations, the results were largely positive. Easymarkets have won multiple industry awards and been well-reviewed by other professionals. Additionally, their Trustpilot score and reviews from their existing clients are very high.
To conclude our Easymarkets Review 2020, we’ve overwhelmingly positive. Of course, no brokerage is perfect, however, on balance Easymarkets has a bit of everything. They have an easyTrade platform and educational tools for the newbies. And furthermore, they have VIP account options for more experienced and higher-volume traders. The lack of fees and ability to limit risk are two of the biggest selling points, not only for us but for their existing clients as well. So if you’re looking for a user-friendly platform to help you get into trading that also has room for growth, you need look no further than Easymarkets.